Exhibit 4 - Broker Recommendation Letter
LOCKTON COMPANIES 214.969.6700
2100 Ross Avenue, Suite 1400, Dallas, TX 75201-6706 lockton.com
10/1/2021
City of Denton
215 E McKinney
Denton, TX 76201
Re: City of Denton 10/1/2021-22 Cyber Renewal Proposal
To Whom it May Concern:
Thank you for the opportunity to assist the City of Denton with the 10/1/2021-22 Crime policy
renewal.
The Cyber market has seen climbing rates, with typical increases ranging between 30-60%
depending on exposure and class of business. The market has been hardening at a fast pace driven
by primarily the increase in ransomware attacks throughout all industries. The incumbent, Brit
nonrenewed due to the carrier having a change in their risk appetite. Lockton was able to secure
coverage with Corvus for a total premium of $108,352.95, including taxes & fees.
Lockton approached over 50 markets to obtain options to present to the City. Corvus was the only
market that was able to provide terms this renewal due to the class of business. Corvus offered two
(2) options – one being an expiring $3M limit / $100k retention and the other being a lower limit
option with a $2M limit / $100k. Lockton recommends the City renew its Cyber Insurance with
Corvus at expiring limits for a total premium of $108,352.95.
Corvus is backed by Accredited Specialty Insurance Company, which has an AM Best Rating of A-
Excellent. They provide access to their dashboard, Crowbar, to their insureds to mitigate the risk of
Cyber exposures. The City also qualifies for the Corvus Black services due to the size of the entity,
which allows for increased benefits in additional reporting & recommendations, response handling
and security trainings.
Thank you for the opportunity to work with the City of Denton. Please let us know if you have any
questions regarding this renewal.
Sincerely,
Neil Cohen
Senior Vice President, Practice Leader
Lockton Companies